Importance Of Cooperative Society

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OBJECTIVES OF CO-OPERTIVE BANK • To introduce people to join it as members and shareholders with a minimum efforts. • To encourage them to save money and deposit into their own bank. • To enable the people themselves to create efficient management of their bank. TYPES OF CO-OPERATIVES • Housing Co-operatives • Building Co-operatives • Retailers Co-operatives • Utility Co-operatives • Social Co-operatives • Consumers Co-operatives • Co-operative Banking • Agricultural Co-operatives • Co-operative whole sale society PRINCIPLES OF CO-OPERATION Co-operative principles are defined as, “A set of rules which given the life and activity of co-operate organization”. Co-operative principle is formulated from experience of co-operators…show more content…
These societies are intended to help the members to improve their agricultural yields at a low cost by rendering necessary services at their door steps. OBJECTIVES OF SERVICE CO-OPERTIVE SOCIETIES For improvement of agriculture the provision of cheap and liberal credit alone was not enough. The farmers require additional services such as manures, seeds, medicine for plant protection, implements etc. The institutional arrangement in the co-operative sector which provides credit as well as other services to farmers as a package programme for maximum yields and there by better standard of living to the farmers is Service Co-operative Societies. • To provide short term and medium term loan to the farmers. • To arrange for the supply of farms requirements such as seeds, fertilizers, implements…show more content…
• To procure and supply agricultural requirement like seed manure implement cattle feed etc. • To arrange for the sale of agriculture product of members to the best advantage. • To own or hire processing plants like rice mills, flour mills, oil crushers, decorations, gins and machinery like tractors mechanized plough etc for the benefit of members. • To undertake collection and discounting of bills drafts and cheques on behalf of members and constituent and to provide facilities for transmission of funds to and on behalf of members and constituents by issue of cheques and drafts. • To undertake collection of insurance premium behalf of the LIC of India from members and constituents and to provide facilities for transmission of funds to and on their behalf. • To own or hire godowns to provide facilities to members to store their products from sale at advantage price. • Generally to encourage thrift, self help and cooperation among the members. • To own or hire vehicle for the transmission of goods of the bank and the members of the

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